General Motors Co is catching up. The company is “working towards a largely aluminum-bodied pickup truck by late 2018, under pressure from federal fuel efficiency standards, the Wall Street Journal reported, citing people familiar with the matter,” reports Reuters.
“GM recently locked-in supply contracts with Alcoa Inc and Novelis Inc and both suppliers are now working to increase their aluminum sheet production to supply the next-generation GM pickup, according to the Journal.”
“Aluminum sheet for automotive bodies is in such high demand that companies need to order it years in advance, the newspaper said.”
“The No. 1 U.S. auto maker has been working to put its full-size pickup trucks on a severe diet to meet future U.S. fuel economy standards and stay competitive with rival Ford Motor Co.”
In metal price news for aluminum…
With a decline of 0.7 percent on Tuesday, February 18, the cash price of primary Indian aluminum recorded the biggest decline of the day. The primary aluminum cash price saw a 0.6 percent decline on the LME to $1,700 per metric ton. On the LME, the aluminum 3-month price declined 0.3 percent to $1,745 per metric ton.
Chinese aluminum prices were flat for the day. The cash price of Chinese aluminum showed little movement yesterday. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row. The price of Chinese aluminum billet continues to hover for the fifth day in a row. The price of Chinese aluminum bar was unchanged.